Prosus (OTCMKTS:PROSY) Reaches New 1-Year Low – What’s Next?

Prosus N.V. Sponsored ADR (OTCMKTS:PROSY) hit a new 52-week low on Wednesday. The stock traded as low as $7.75 and last traded at $7.76, with a volume of 103,663 shares. The stock had previously closed at $8.00.

Analysts Set New Price Targets

A number of brokerages have issued reports on PROSY. Zacks Research downgraded Prosus from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Prosus in a research note on Thursday, July 23rd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Prosus in a research report on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.10.

Prosus Trading Down 3.2%

The firm’s 50 day simple moving average is $8.38 and its two-hundred day simple moving average is $8.94.

About Prosus

Prosus N.V. is a global consumer internet group and technology investor headquartered in the Netherlands. It is a subsidiary of Naspers and focuses on building and investing in businesses that serve large consumer markets through digital platforms and online services.

The company’s activities include food delivery, online classifieds, payments and fintech, education technology, and other internet-based services. Its portfolio has included businesses such as iFood, OLX, PayU and other consumer technology platforms, while its investment activities have also included holdings in major global technology companies.

Prosus operates and invests across a range of geographies, including Europe, India, Latin America, Africa and Southeast Asia.